The Union Cabinet on Wednesday approved fund infusion in Export-Import Bank of India (Exim Bank), sources said.
The infusion would help the bank expand its business, they added.
The government had provided for ₹ 500 crore towards capital infusion in the Exim Bank in the budget for this fiscal.
The government had infused ₹ 500 crore in Exim Bank last financial year.
Established by the Government of India, Exim Bank commenced operations as a purveyor of export credit, mirroring global export credit agencies.
It serves as a growth engine for industries and small and medium enterprises through a wide range of products and services.
This includes import of technology and export product development, export production, export marketing, pre-shipment and post-shipment and overseas investment.
